Bullion Intraday Road Map for Jan 31, 2012

Gold: currently trading at 1735.85, day trading range will remain between 1710-1742, trend is up but reversal is likely. Yesterday gold was struggling between ranges of 1711-1740 and was not above to form any directional moment. Having strong resistance at 1742 break above 1742 would signal an advance till 1755-1760 zones. Immediate supports seen at 1725 break would signal retest to 1716-1711 zones. Key support will remain at 1700 break would take it to 1680-1670 zones.

Recommendation: Selling gold around 1635-1638 would be a good trading decision with stop loss above 1742 on 4 hour close basis for targeting around 1717-1706-1684.

Silver: currently trading at 33.57, day trading range will remain between 32.70-34, trend will remain up but reversal is likely due to overbought conditions. Silver having strong resistance at 34, if manage to hold above this level for some time then rally will remain continue till our ultimate target 35.70. Immediate resistance seen at 33.72 breaks would take it to 33.90-34 zones. But 34 will remain key resistance for the day. Immediate support seen at 33.40 breaks would signal retest to 33 zones. Below 33 it is likely to taste 32.80-32.70 zones during the day.

Recommendation: selling silver around 33.60-33.80 zones would be a good trading decision with stop loss above 34 for expected targets around 33.05-32.85

Comments

Nifty Struggles at 24800: What Options Data Tells Us About Market Direction

Nifty settled at 24,578 , down by 1.39% on Tuesday. The index failed to attract follow-up buying above 24,800 , which acted as a strong resistance zone (as highlighted in our previous write-up dated May 2, 2025 ). It eventually closed well below this level, indicating the presence of selling interest near key resistance. Technical Overview: Nifty successfully tested the resistance zone of 24,800 and subsequently formed a bearish Harami pattern on the daily chart. This pattern coincides with a recent swing top and occurred near a resistance zone, thereby strengthening its technical significance. A large trading range was observed on Monday, May 12, 2025 , which suggests the possibility of a sideways move in the coming sessions. Despite the recent pullback, the intermediate trend remains bullish as the price is still holding above the 9 and 21 DEMA levels. Moreover, the 9 DEMA is placed above the 21 DEMA , confirming the uptrend. Key support is now seen in the 24,100–24,000...

First step towards becoming Financial Independent...

Success is not getting a highest paying job but success is when you get enough free time for yourself you can do whatever you want you can go wherever you want to go without concerning about your job and effecting your lifestyle. Generally people waste their early age in preparing for govt. Jobs and they put their energy and time for preparing job but among those only few people get the govt. Jobs and rest stay jobless with wasted time of 3 to 5 years of their graduation and mostly spend their life jobless or with mediocre salary. In India people In their early age after graduation don't have much pressure from family for earning and they usually use this time to prepare for competitive exams for job and take some courses and among them only few people get job and rest remains jobless and then they keep blaming the system for their unemployment. Let's take an example to understand magic of starting earning and saving in early age. Because in ea...

LIC Housing Finance; time for bulls?

LIC HOUSING FINANCE settled at 321.90 up by 5.78% on Tuesday. Stock had been staying in a consolidation phase that took shape of an ascending triangle and in today’s session it broke through the resistance line of this triangle consolidation and settled well above key resistance of 312 suggesting dominance of bulls. Stock has been staying above its 9 days SMA on daily chart keeping a short-term bullish trend in picture. Stochastic is now approaching overbought territory along with bullish cross above its signal line suggesting a strong bullish momentum. MACD has been staying in positive territory and now its parting upward from its signal line suggesting development of fresh bullish momentum. Direction and momentum are two important components for any chart to anticipate future price movement and current trend and momentum on chart provided above is suggesting bullishness. Breakout of triangle pattern can be used to determine potential destination for current move and if th...

LET THE MARKET TELL WHO WE ARE

Search This Blog